Messaging API Startup Raises $2.5M With Aim to Become Twilio’s Web3 By CoinQuora

© Reuters. Messaging API Startup Raises $2.5M With Aim to Become Twilio’s Web3
  • Web3-based messaging API startup Notifi Network raised $2.5 million in a pre-seed funding round.
  • The pre-seed round was led by Race Capital and Hashed.
  • Notifi, led by ex-Circle Product Director Paul Kim, aims to become the Twilio (NYSE:) of Web 3.0.

A new challenger in the Web 3.0 arms race announced that it bagged up to $2.5 million in a pre-seed funding round to become the decentralized messaging API version of Twilio.

Notifi Network, a startup based in Seattle, WA, said that the fund will be used to jumpstart the development of its Notifi Beta. According to information sent to CoinQuora, this will provide a messaging infrastructure for decentralized applications (DeFi) that is blockchain agnostic.

The pre-seed round saw the participation of Race Capital, a VC firm that made prophetic investments in FTX, , and Lightning Labs. Co-leading the funding round was Hashed, an investment firm based in South Korea and Silicon Valley.

According to investors, Notifi Network attracted their attention due to the impressive track record of its founders. Race Capital General Partner Chris McCann lauded the previous experience of Notifi’s execs at tech pacemakers Amazon (NASDAQ:) and Oracle (NYSE:):

[Notifi CEO] Paul Kim and [CTO] Nimesh Amin started their careers at Amazon Web Services and Oracle Cloud Infrastructure. They are frustrated by the lack of enterprise-grade notifications for Web3. Given their skill sets and expertise in the communication technology stack, I believe Paul and Nimesh will redefine how Web3 communications work.

Meanwhile, Kim was previously the Director of Product at Circle. During his tenure, he led the launching of Circle Yield. As the chief of Notifi, Kim expressed his vision of becoming the Web 3.0 version of Twilio.

I am building Notifi to be the Twilio and the de facto messaging protocol for blockchain so we can help developers and projects to start building long-term relationships with their users, Kim said.

Continue reading on CoinQuora

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source link

Google News

By Google News

GoogleNews is a news aggregator platform. It presents a continuous, customizable flow of articles organized from thousands of publishers and magazines.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.